Edgewise boosts R&D spending with drug trials underway

BOULDER — Edgewise Therapeutics Inc. (Nasdaq: EWTX), a Boulder-based muscle disease biopharmaceutical company, increased its research and development spending slightly in the third quarter of 2024 from the preceding quarter as key drug trials are underway. 

“We continue to make strong progress on our cardiac and skeletal muscle programs,” Edgewise CEO Kevin Koch said in a prepared statement. “We look forward to sharing important updates (on several drug trial) programs over the coming months.”

Research and development expenses were $32.2 million for the third quarter of 2024, compared with $30.7 million in the second quarter of the year. The increase was driven largely by increased spending on drug manufacturing

Edgewise posted a net loss of $34.1 million in the most-recent period, compared with a net loss of $31.5 million for the immediately preceding quarter.

The company had $492.5 million in cash, cash equivalents and marketable securities at the end of the third quarter. 

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